We have reviewed Mobdro in the past and to be honest the application was kind of rough on the edges and needed some polishing and fine tuning.
The app now has the look and feel it deserves and supports far more free streams than before. The people behind Mobdro seem to have taken a step further and make their app look more professional and more robust and stable.
It is still a stand alone Android app and you can use it as your media center (sort of) to watch streams from around the world. You can create your own list of favorite streams and you can choose from a wide range of stream categories, such as sports, movies, news and more.
The look and feel of the app has been updated and is much better than in previous versions.
I am not sure what is the core business model behind Mobdro, but there seems to be (or will be) a premium version of the app that will offer additional features on top of the free version.
The premium features will include Chromecast support, ad removal, sleep timer function, etc. Having said this, the Mobdro company has not made any pricing announcements for the premium version.
Unfortunately the application is currently only available for Android, but hopefully other platforms will soon also get the app.
You can download Mobdro from here.